UNIT 2

INTERNATIONAL
FINANCIAL REPORTING
STANDARDS - IFRS

LOGO
CONTENTS

DISCUSSION

VOCABULARY

READING

LISTENING

WRITING

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 IFRS

International Financial Reporting

Standards (IFRS)

Chuẩn mực Báo cáo tài chính quốc tế (IFRS)

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Why does IFRS play an important role?

The world economy increasingly interdependent

Process of economic globalisation significantly

The growing scale of cross-border trade and flow of

international capital

 Challenges in the presentation and interpretation of

financial information

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 Why does IFRS play an important role?

Financial information: relevant /ˈreləvənt/, reliable /rɪˈlaɪəbl/

and comparable /ˈkɒmpərəbl/ (able to be compared) across
borders /ˈbɔːdə(r)/

+ as companies seeking capital

+ investors and lenders seeking investment opportunities

/ ˌɒpəˈtjuːnətiz/

The IFRS Foundation (Quỹ IFRS) responsible for developing a

single set of high-quality global accounting standards,
known as the IFRS Standards
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 Why does IFRS play an important role?

1. The mission /ˈmɪʃn/ of the Foundation: to bring

transparency /trænsˈpærənsi/ (easy to understand),
accountability /əˌkaʊntəˈbɪləti/ (responsible for your decision –
trách nhiệm giải trình) and efficiency /ɪˈfɪʃnsi/ to financial
markets by developing the IFRS Standards.
2. The IFRS Standards: set by the Foundation’s standard-
setting body, the International Accounting Standards Board
(IASB) - Tổ chức tiêu chuẩn kế toán quốc tế
3. The IASB: an independent, private-sector body that
develops and approves these standards.

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VOCABULARY – A. WORD SEARCH

1. a. C……….. E………… O………………

1. b. B………………….
1. c. D……….. E………….. R…………….
2. F……………. P…………………
3. a. R……….. A.....................
3. b. F………………..F……………… S………………
4. K………………….A………………..P……………….
5. A……………
6. D……………….R……………….
7. C…………………M…………………………………
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 VOCABULARY/B. WORD FAMILIES
Verb Noun
Adjust /əˈdʒʌst/ (change sth to make more 1. ……………..
suitable)
2. ………… make sth different Alternation /ˌɔːltəˈneɪʃn/
Change Change
Changeover /ˈtʃeɪndʒəʊvə(r)/ 3……………
a change from one system to another

Convert /kənˈvɜːt/ change something from 4………………

one system to another
Reorient (change the focus) 5………………

6. ……………… Switchover /ˈswɪtʃəʊvə(r)/

a change from one systemto another

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VOCABULARY/C. Sentence Completion

1. changeover/……….. 5. reported …………..

2. alter/………………… 6. disclosure
………………
3. key ………. ………… 7. anomalies

4. Director of ………….
……………..

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D. VOCABULARY DEVELOPMENT

CEOs
1. 2.

COMPANIES
3. 4 5 6

3. 4. 5. 6.
DIRECTORS of EXTERNAL REPORTING
7.

CEOS
8. 9.

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VOCABULARY/understanding expressions
1.

2.

3.

4.

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READING/A. Understanding the main points

1.F (line 1-2) 4.

1.2. T (line 17-18) 5.
3. 6.

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 READING/B. Understanding details
1. Take account of = ………….. 4. the moves were
normally ………. percent

2. ……………. in the reported 5. only ………………….

accounts in bookkeeping

3. …………..the markets as to 6. capital

what the different numbers markets/………………
meant …..
- ………….. investors and 7. the larger,
analysts for any significant ………………………
changes ones
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VOCABULARY

Operating Lease /liːs/ (thuê hoạt động)

+ a contract that allows for the use of an asset but

+ not convey rights of ownership of the asset.

 represents an off-balance sheet financing of assets
(Các khoản mục ngoài bảng cân đối)

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VOCABULARY

Finance lease (thuê tài chính)

a type of lease in which a finance company is the legal

owner of the asset for the duration of the lease

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 Gearing /ˈɡɪərɪŋ/

1. Gearing là hệ số đo lường, để chỉ mối quan hệ giữa nguồn

vốn đi vay và vốn chủ sở hữu.
2. Hệ số này phản ánh mỗi một đồng bỏ ra đầu tư bằng vốn
chủ sở hữu thì doanh nghiệp sẽ sử dụng bao nhiêu đồng đầu
tư bằng nguồn vốn đi vay để đầu tư vào dự án đó.

3. Gearing là Tỉ Số Vốn Vay.

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Listening- gap filling words

Gearing (The proportion of own capital to borrowed funds

when buying an asset or financing a company)

To Service (service something: to pay interest on money

that has been borrowed)

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 Listening- True or False

1. Charles and Sally agree that their company TRUE

has a debt problem.
2. The consequence of the debt problem is that
it is not easy to attract new investment.
3. They are investing in a new factory in
Slovakia.
4. Charles suggests to lease the assets.
5. Charles has made a final decision about what
to do.
6. Sally agrees with Charles’s suggestion.

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 Listening- True or False

1. Charles and Sally agree that their company has a debt True
problem.

2. The consequence of the debt problem is that it is not True

easy to attract new investment.

3. They are investing in a new factory in Slovakia. false

4. Charles suggests to lease the assets. True

5. Charles has made a final decision about what to do. False

6. Sally agrees with Charles’s suggestion. false

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LISTENING- FILL IN THE GAPS

1. 6.
2. 7.
3. 8.
4. 9.
5. 10.

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LISTENING- FILL IN THE GAPS

1.shareholders 6. come up with

2. gearing 7. assets
3. service 8.liabilities
4.investment 9.standards
5. significant 10. principles

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LOGO